Why do some companies not ship coins?

airplanenut

When I discovered Airborne Express recently, I realized that ground service is very cheap (for packages, it is cheaper than USPS, as well as faster, trackable, and insured). They also give me my own boxes/envelopes/padded mailers/you get the idea.

I thought it would be a great way to ship coins... there is a drop box on my way home from school, supplies are free, and I can print labels on my computer and not bother with insurance at the PO...

then...

I discovered they don't ship coins!

Does anyone know why they wouldn't ship the coins? (I don't think FedEx does, either, not sure about UPS) This is bothering me because I thought I found the PERFECT solution to shipments and time saving

If my shipment is small (and even to a dealer) do you think I could get away with it, hoping it doesn't get lost (its tracked, so it shouldn't) so I don't have to explain what was being insured? All things are covered up to $100, but I think this being lost would be a lost cause with no coverage...

WHY WON"T THEY SHIP COINS???

littlewicher

They haven't identified coins' collector value, it's just face value to them.

cointagious

these folks may be the solution to the package insurance problem.

shipment insurance

airplanenut

Cointageous...

Will that allow me to ship what Airborne says they won't ship? In other words, they will cover it if it gets lost, and, if not, Airborne will never know (what they don't know can't hurt them?)

Jeremy

airplanenut

<< <i>

1. Accounts, bills, tickets, currency, deeds, evidence of debt, money, notes, securities, bullion, furs, perishable cargo, or similar property unless endorsed here on in writing. >>
   
   
   
   Does this include collectable currency/money?

cointagious

they specifically will NOT insure currency, money or bullion. HOWEVER, if you contact them and explain what you are doing they may offer coverage. many dealers are able to buy private insurance thru their business insurance provider. as an aside, common carriers do offer insurance on a declaration such as 'silverware'. i know dealers that ship junk silver/proof sets and other low margin or melt material via common carrier using this method.

airplanenut

So I'd have to email them, first?

cointagious

<< <i>So I'd have to email them, first? >>



sounds like the right thing to do.


as to your question re: why won't they ship coins. it's more a question of their bonding and insurance issues. they are not self-insuring and lay the liability off and are bound by that. bonded courriers DO cart coins/currency, etc. but at a very hi rates per shipment like the armored cars that show up at the supermarket. the theory behind the denial of coverage is that they don't want to carry insurance at a very hi rate for any fungible instruments such as enumerated in para 1 in t.o.s.

Sealyp

You could try FedEx. Not sure if the prices are comparable to Airborne, but they do ship coins, they also recently aquired a ground service to compete with the Big Brown Truck.

airplanenut

FedEX has had a ground service for a while, but the nearest drop-off is about 1 hour from me Air has lots of boxes within 5 minutes walking, but that is too much.

truthteller

Fedex, airborne, United Parcel, etc., will not INSURE coins, they will ship them, but you cannot disclose this. If the coins are lost, they will not pay ANY insurance for items such as coins, collectibles, or any item with 'negotiable' value. You must be 'self insured'. This means you have to have a private insurance company cover the loss and they are very specific as to how you ship(i.e. large box for Fedex, no shipments on weekends) Otherwise, you take the risk by sending coins. Many coin dealers use Fedex and are not self insured, with the risk as part of the cost of doing business. Some homeowners policies will cover a loss on a Fedex, etc., shipment. But the coverage is limited.

TRUTH

airplanenut

Truth,

Thanks for the info... that was VERY helpful. This means that Cointageous' site, provided it will insure my coins, is the way to go.

Jeremy

JJacks

Wow! Here is a link to the Airborne site that lists Unacceptable shipments. It says "Coins of any kind"! I am also surprised by Lottery Tickets and Trading stamps! If you try to send coins through these guys, you certainly woundn't want them to know that!

Link:

Airborne shipments rules - Look at section D

JJacks

swissmiss45

Hi, new person here. Saw your logo and have a question. In some foreign coins (from pretty much all over) I found an Israeli Shekel (hope it's spelled right -coin not with me here) and I looked in a "World Coins" book under the Israeli coins and they did not list a skekel. I remember it being mentioned in the Bible but is it still used today? Also what is the current denomination if it is? One last thing, why is it not in the book? I wonderer if it is just a souveniere type of thing from someone who visited the Holy Land.
swissmiss45

relayer

In Biblical times a "Shekel" was a weight of silver.

The currency of the modern state of Israel is the NIS - New Israeli Shekel, worth about $0.22 US

airplanenut

and the equivalent of the cent is the agorah (but since the lowest denomination is 5, it is agarot).

You probably got a suvenier, or, it is also possible that you received a commemorative of some kind.